New York coffee futures were little changed on Tuesday as the market continues to look for direction while keeping tabs on weather news out of leading producer Brazil, floor sources said.
July arabicas rose 0.45 cent to conclude Monday at 70.20 cents a lb, ranging from 69.75 to 70.50 cents.
Key September added 0.30 to finish at 71.95 cents, dealing between 70.95 and 72.20 cents. The rest gained 0.30 cent as well.
Light speculative and industry buying kept prices buoyant in modest trade.
On the weather front, forecasters Meteorlogix said a cold front will build northward along the coast of Brazil which will bring cooler weather but no damaging cold. "There are no other cold airmasses projected to enter Argentina during the next 10 days," it said.
Technicians put resistance in the September contract at 72 and 72.50 cents, with support at 71.40 and 71 cents.
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